News

Finance Ministers from the Party of European Socialists met today in Brussels prior to the ECOFIN Council. The Ministers discussed measures to tackle corporate tax avoidance and promote fiscal justice. The meeting focused on proposals that would prevent corporation from using aggressive tax planning and profit shifting practices. PES Finance Ministers reiterated their conviction to effectively tackle tax avoidance and tax fraud and to close down tax havens.

Lithuanian Finance Minister and chair of the network, Rimantas Šadžius, stated: "We warmly welcome the fact that combatting tax evasion and tax avoidance remain at the top of Europe’s political priorities. Big steps forward have been taken so far to require multinationals to report tax-related information in the countries in which they operate and for this information to be exchanged automatically. But more needs to be done to ensure that a strong framework of rules is created to stop companies from using loopholes to avoid paying taxes. Our aim is clear companies should be taxed where they operate."